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Modern Dental Group Limited
(3600)
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Rating:82Outperform
Price Target:
HK$7.50
▲(38.12% Upside)
Action:Reiterated
Date:07/04/26
The score is driven primarily by strong financial performance—expanding profitability, improving leverage, and robust free cash flow—supported by an attractive valuation (low P/E and solid dividend yield). Technicals add a positive but secondary boost, with price above major moving averages and generally bullish momentum indicators.
Positive Factors
Robust cash generation
Strong operating cash flow and high free cash flow provide durable internal funding for capex, dividends, and debt reduction. Sustained cash conversion close to earnings improves financial flexibility, reduces reliance on external financing, and supports strategic reinvestment over the medium term.
Negative Factors
Historical revenue and cash volatility
Past volatility, including a 2022 revenue decline and intermittent weak cash conversion, signals structural sensitivity to demand and working-capital swings. This reduces predictability of free cash flow and complicates multi-quarter capital allocation and debt-servicing planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust cash generation
Strong operating cash flow and high free cash flow provide durable internal funding for capex, dividends, and debt reduction. Sustained cash conversion close to earnings improves financial flexibility, reduces reliance on external financing, and supports strategic reinvestment over the medium term.
Read all positive factors
Modern Dental Group Limited (3600) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.15B
Dividend Yield3.65%
Average Volume (3M)704.15K
Price to Earnings (P/E)9.7
Beta (1Y)0.35
Revenue Growth11.07%
EPS Growth48.01%
CountryHK
Employees7,106
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.63
Shares Outstanding934,850,000
10 Day Avg. Volume687,288
30 Day Avg. Volume704,147
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)1.52
Price to Sales (P/S)1.34
P/FCF Ratio7.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.66
Revenue Forecast (FY)HK$4.13B
Modern Dental Group Limited Business Overview & Revenue Model
Company Description
Modern Dental Group Limited, an investment holding entity, is a prominent provider specializing in the manufacturing and worldwide distribution of dental prosthetic devices. Its extensive operations reach various international markets, including E...
How the Company Makes Money
Modern Dental Group primarily makes money by selling dental laboratory products and services to dentists, dental clinics, and other dental service providers. Its core revenue is generated when dental professionals submit patient cases (e.g., for c...
Modern Dental Group Limited Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
78
Positive
Cash Flow
86
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.74B | 3.36B | 3.17B | 2.83B | 2.96B |
| Gross Profit | 2.08B | 1.80B | 1.70B | 1.38B | 1.55B |
| EBITDA | 848.78M | 719.12M | 696.64M | 464.09M | 627.01M |
| Net Income | 596.97M | 408.00M | 404.10M | 220.46M | 360.82M |
Balance Sheet | |||||
| Total Assets | 4.54B | 4.07B | 3.95B | 3.54B | 3.66B |
| Cash, Cash Equivalents and Short-Term Investments | 767.24M | 816.83M | 697.69M | 447.72M | 638.00M |
| Total Debt | 654.11M | 924.22M | 852.20M | 788.19M | 833.09M |
| Total Liabilities | 1.24B | 1.35B | 1.31B | 1.21B | 1.30B |
| Stockholders Equity | 3.29B | 2.72B | 2.63B | 2.32B | 2.35B |
Cash Flow | |||||
| Free Cash Flow | 691.12M | 379.37M | 416.04M | 53.36M | 369.27M |
| Operating Cash Flow | 763.10M | 521.19M | 575.76M | 238.72M | 510.72M |
| Investing Cash Flow | -278.13M | -145.47M | -154.96M | -227.55M | -142.65M |
| Financing Cash Flow | -575.66M | -227.70M | -173.64M | -201.79M | -452.12M |
Modern Dental Group Limited Technical Analysis
Positive
5.43
Price Trends
5.83
Positive
5.84
Positive
5.52
Positive
Market Momentum
0.10
Negative
74.22
Negative
78.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3600, the sentiment is Positive. The current price of 5.43 is below the 20-day moving average (MA) of 5.93, below the 50-day MA of 5.83, and below the 200-day MA of 5.52, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 74.22 is Negative, neither overbought nor oversold. The STOCH value of 78.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3600.
Modern Dental Group Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | HK$6.15B | 9.75 | 16.76% | 3.65% | 11.07% | 48.01% | |
69 Neutral | HK$6.65B | 22.53 | 11.30% | ― | 25.24% | 7.29% | |
67 Neutral | HK$1.57B | 15.00 | 3.68% | 7.46% | 7.11% | -34.66% | |
66 Neutral | HK$12.20B | 75.35 | 4.01% | ― | ― | ― | |
62 Neutral | HK$14.47B | 7.91 | 6.69% | 4.58% | 2.34% | -22.25% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
40 Underperform | HK$242.02M | >-0.01 | -11.12% | ― | -24.95% | -0.76% |
* Healthcare Sector Average
HK:3600
Modern Dental Group Limited
6.58
2.45
59.44%
HK:1066
Shandong Weigao Group Medical Polymer Co
3.26
-2.62
-44.52%
HK:1358
PW Medtech Group Ltd.
1.10
-0.20
-15.12%
HK:0876
Kaisa Health Group Holdings Limited
2.40
1.45
152.63%
HK:1501
Shanghai Kindly Medical Instruments Co., Ltd. Class H
31.46
7.45
31.03%
HK:6699
Angelalign Technology Inc.
74.95
22.01
41.57%
Modern Dental Group Limited Corporate Events
Modern Dental Wins Shareholder Backing for Dividend, Capital Mandates and New Option Plan
May 28, 2026
Modern Dental Group Limited shareholders approved all resolutions at the 28 May 2026 annual general meeting, including the adoption of the 2025 audited financial statements, a final dividend from the share premium account and the re-election of ke...
Modern Dental Group Posts Record Q1 2026 Revenue on Digital Push
May 28, 2026
Modern Dental Group Limited reported record first-quarter 2026 revenue, driven by its multi-dimensional strategies and ongoing digital transformation, despite a challenging macroeconomic backdrop marked by softer demand for dental procedures, trad...
Modern Dental Calls 2026 AGM, Seeks Dividend Payout and New Share Mandates
Apr 23, 2026
Modern Dental Group Limited has called its annual general meeting for 28 May 2026 in Hong Kong to present its audited financial statements for the year ended 31 December 2025 and seek shareholder approval for a final dividend of HK$0.15 per share ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.